Beecroft v. Ocwen Loan Servicing, LLC
| Tracee A. Beecroft |
| Ocwen Loan Servicing, LLC |
| 1:2016cv08677 |
| September 2, 2016 |
| US District Court for the Northern District of Illinois |
| Chicago Office |
| XX US, Outside the State of IL |
| Matthew F. Kennelly |
| Other Statutory Actions |
| 15 U.S.C. ยง 1692 |
| Plaintiff |
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Filing
111
MEMORANDUM OPINION AND ORDER signed by the Honorable Matthew F. Kennelly on 5/14/2019: For the reasons stated in the accompanying Memorandum Opinion and Order, the motion for final approval of the amended settlement is granted subject to the modific ations described here, while the motion for attorneys' fees is granted in part. The Court modifies the settlement such that the distribution of the $21,500,000 common fund is as follows: (1) $1,600,000 to Epiq for the costs of notice and administration; (2) $96,380 to plaintiffs' counsel for costs; (3) $4,789,250 to plaintiffs' counsel for fees, less any amount greater than $601,697.50 that the Ankcorn Law Firm would have received by way of a risk multip lier, agreement among counsel, or otherwise; (4) $30,000 to named plaintiffs Keith Snyder, Susan Mansanarez, and Tracee Beecroft as incentive awards; and (5) the remainder to compensate claimants as set forth herein. The Court also orders class counsel to submit, by May 21, 2019, a status report detailing (1) the precise amount that the Ankcorn Law Firm would be receiving but for the Court's order (which per this order must be reallocated to the fund from which claimants are compensated) and (2) how class counsel intend to allocate the remaining attorneys' fees award. Counsel are also to submit by that date a draft judgment and order embodying the Court's rulings. (mk)
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